The founder and co-CEO of BTS‘s agency, Big Hit Entertainment, is now one of the wealthiest stockholders in South Korea.
As soon as Big Hit Entertainment’s initial public offering (IPO) began, the prices opened at ₩270,000 KRW ($235 USD) per share and jumped to ₩335,000 KRW ($292 USD).
In just thirty minutes, BTS’s shares made each member $10 million dollars richer.
The agency rose up to 160% more than its IPO price, which gave it a market value of approximately $10 billion. According to Bloomberg Asia, Bang Si Hyuk is now the 5th richest stockholder in his home country.
From humble beginnings to world domination, Big Hit Entertainment’s rise is one for the history books!
K-pop group @BTS_twt's agency, Big Hit, soars up to 160% more than its IPO price, giving it a market value of around $10 billion, reporter @soheefication tells @BloombergTV. The founder is now one of South Korea's richest people. https://t.co/rN2ZvgVrny pic.twitter.com/1te3WcemnM
— Bloomberg Asia (@BloombergAsia) October 15, 2020